News

Nordic Capital to acquire ABB Full Service®, creating a strong independent company with a leading market position in industrial maintenance

August 20 2014

Nordic Capital Fund
VIII ("Nordic Capital") has signed an agreement to acquire ABB Full
Service ("Full Service") from the ABB Group, supporting the
creation of a strong independent company within the industrial
maintenance sector. Full Service is a market leader in this
industry, maintaining andimproving the production
and equipment performance for entire facilities. Full Service
employs over 2,500 direct service professionals in 30 countries,
managing a yearly customer maintenance spend in excess of USD 500
mn. The transaction is expected to close in Q4
2014.

For over 20 years, Full Service has been the partner
of first choice in over 300 performance based maintenance
agreements. The company is based in Prague, Czech Republic, and is
the leader in industrial maintenance outsourcing services in
Europe, with a particularly strong position in the Nordics and a
global presence. Full Service offers full scale industrial
maintenance management services to customers in a wide field of
industries and geographies.

Nordic Capital has a long history of successful
growth oriented investments, both multinational and local
businesses, and is well equipped to support Full Service's
continued development with industrial knowledge and capital.
Previous investments by the Nordic Capital Funds have included a
large number of portfolio companies within the B2B services or
manufacturing sectors.

"We are very excited to work together with the
management team to invest and further accelerate the growth and
development of Full Service. There is a clear value in establishing
an independent business, fully focused on developing its customer
offering and thereby solidifying its position as a global leader in
the growing market for industrialised maintenance. We are very
impressed by the Full Service business and the competence and
commitment of the employees," said John Hedberg, Principal, NC
Advisory AB, advisor to the Nordic Capital Funds.

In connection with the acquisition, Nordic Capital
has appointed Sabrina Vilhena as CEO designate of Full Service,
Sabrina has been with the ABB Group for over 15 years, during which
time she has spent more than 10 years in various functions in Full
Service. Her most recent role in Full Service was head of finance.
Sabrina will assume the CEO position when the transaction closes
and Full Service becomes a stand-alone company.

"Full Service has been a pioneer in introducing
service offerings to various industrial segments. The current
market leading position wouldn't have been achieved without a team
of exceptional professionals or without forward looking customers
who have partnered with Full Service to improve their operations. I
believe that Nordic Capital's investment strategy is well suited to
enable Full Service to leverage on its existing foundation to bring
further value to customers, employees and investors. I am happy to
re-join Full Service and to engage with our employees and customers
to realise the full potential of the business as an independent
company," said Sabrina Vilhena, CEO designate of Full
Service.

"Given the competence and track record of Nordic
Capital I am confident in their commitment to give Full Service the
opportunity and ability to grow from a new platform and help the
company realize its goals. We found the right owner for this
business which will enable ABB to further concentrate on its core
power and automation related service activities," said Veli-Matti
Reinikkala, Head of the Process Automation Division for the ABB
Group.

As part of the transaction the head office of Full
Service is intended to move to Stockholm,
Sweden.

The business will continue to operate under its
existing name ABB Full Service for a transitional period, after
which a new name and brand for the independent entity will be
launched.

ABB Full Service is a global provider of value added
industrial maintenance and asset optimization, helping customers to
improve performance of their production processes, while improving
safety, saving energy and costs. ABB Full Service operates in 30
countries around the world and employs more than 2,500
people.For more information about ABB Full Service,
please seewww.abb.com/fullservice

About Nordic Capital Funds

Nordic Capital private equity funds have invested in
mid-market companies primarily in the Nordic region since 1989.
Through committed ownership and by targeting strategic development
and operational improvements, Nordic Capital Funds enable value
creation in their investments. Nordic Capital Funds invest in
companies in northern Europe and in selected investment
opportunities internationally. The most recent fund is Nordic
Capital Fund VIII with EUR 3.5 billion in committed capital,
principally provided by international institutional investors such
as pension funds. Nordic Capital Funds are based in Jersey, Channel
Islands, and are advised by the NC Advisory companies in Sweden,
Denmark, Finland, Norway, Germany and the UK. For further
information about Nordic Capital please seewww.nordiccapital.com